Bloomberg News

Thailand Stocks: Advanced Info, Padaeng, Sri Trang, Thai Rubber

October 03, 2011

Oct. 3 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. break in Bangkok.

The SET Index tumbled 40.98 points, or 4.5 percent, to 875.23, heading for the lowest close since Aug. 17, 2010.

Rubber producers: Rubber futures extended losses in Tokyo on concern that the slowing U.S. economy and deepening European debt crisis may curb demand for the commodity used in tires and gloves.

Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, slid 6.3 percent to 15 baht, heading for the lowest close since June 18, 2010. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) declined 3.3 percent to 2.9 baht.

Advanced Info Service Pcl (ADVANC TB), the nation’s largest mobile-phone company, slipped 1.2 percent to 126.5 baht, the first decline in six days. Thailand’s six-year struggle to sell licenses for third-generation wireless services may be derailed by politics, Wichian Mektrakarn, Advanced Info’s chief executive officer, said in an interview. The company is reluctant to invest more until the government auctions licenses and sets rules for operating the service, Wichian said.

Padaeng Industry Pcl (PDI TB), the nation’s largest zinc producer, tumbled 4.6 percent to 12.40 baht, on course for the lowest close since April 2009. Zinc for three-month delivery on the London Metal Exchange lost 3.4 percent to $1,860 a ton on Sept. 30, the lowest since July 19, 2010.

--Editor: Matthew Oakley

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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